SPY, RDMX: Big ETF Outflows
Looking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the SPDR S&P 500 ETF Trust, where 13,050,000 units were destroyed, or a 1.4% decrease week over week. Among the largest underlying components of SPY, in morning trading today Apple is off about 0.8%, and Microsoft is lower by about 0.5%.
And on a percentage change basis, the ETF with the biggest outflow was the United States Fund Finder & ETF Screener, which lost 200,000 of its units, representing a 33.3% decline in outstanding units compared to the week prior. Among the largest underlying components of RDMX, in morning trading today Royal Bank of Canada is up about 0.1%, and Toronto-dominion Bank is up by about 0.5%.
